Ten listed companies might do cheating in their annual report?

Ten listed companies might do cheating in their annual report?
May 10, 2008 03:19
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	Before May Day holiday, almost all listed companies in Shanghai and Shenzhen Stock Exchanges released their 2007 annual report. According to their reports, the turnover of 1574 listed companies has reached 9447.428 billion yuan, increasing 25 percent. Really good news! However, some people doubt the truth of the reports. Recently, Xia Cao, a Chinese guy has written an article in his blog, which says that Dongsheng, Zongyi and other 10 listed companies have done cheatings in their annual report. According to his article, those ten listed companies have released false information in their report--- the financial data in the reports actually have been altered. So far, those ten companies haven’t reacted to this report. What do you think of it? Do you have doubt about the profitable turnover of the listed companies in 2007?

May 10, 2008 03:19

JIMMYB
Points:
Join Date: Feb 7, 2007
Status: offline

Before May Day holiday, almost all listed companies in Shanghai and Shenzhen Stock Exchanges released their 2007 annual report. According to their reports, the turnover of 1574 listed companies has reached 9447.428 billion yuan, increasing 25 percent. Really good news! However, some people doubt the truth of the reports. Recently, Xia Cao, a Chinese guy has written an article in his blog, which says that Dongsheng, Zongyi and other 10 listed companies have done cheatings in their annual report. According to his article, those ten listed companies have released false information in their report--- the financial data in the reports actually have been altered. So far, those ten companies haven’t reacted to this report.

What do you think of it? Do you have doubt about the profitable turnover of the listed companies in 2007?

May 10, 2008 08:57	#1
MARRIE Points: Join Date: Jan 7, 2008 Status: Offline	just 10? three books prepared: one for internal use (real one), one for public and the other is for vendors and customers.

May 10, 2008 17:35	#2
WCTMAN Points: Join Date: Dec 17, 2005 Status: Offline	Do I have doubts that the books are cooked? None at all. In China, if you are not cheating, you are not trying.

May 12, 2008 16:55	#3
GUEST32184	The top story today for the market must be the quake. How is the Sichuan Quake (8000+ death so far reported) going to affect China Stock Market and World Market in general? BTW, for a complete list of China Stocks traded in the US, visit http://www.chinastockinfo.com/

May 13, 2008 23:20	#4
GARYKINKADE Points: Join Date: Jan 8, 2008 Status: Offline	Thanks for the information.

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